Stocks turn lower a day after the S&P 500 hit a record high

Friday, August 14, 2020, Vol. 44, No. 33

NEW YORK (AP) — Stocks turned lower in late trading on Wall Street Wednesday, handing the S&P 500 a loss a day after it closed at a record high.

The day-earlier gain wiped out the last of the index's losses created by the pandemic and surpassed its Feb. 19 peak.

Stocks started to fade in the afternoon after the Federal Reserve released minutes from its latest policy meeting.

The market's momentum has remained solid, but it's slowed recently after roaring back from a nearly 34% plummet in February and March. Apple's market value briefly topped $2 trillion, the first time a U.S. company has passed that threshold.